MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LA TROBE CO LTD |
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Registered Office : |
No. 2, Caudan Development Building Riche Terre |
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Country : |
Mauritius |
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Financials (as on) : |
30.06.2005 |
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Date of Incorporation : |
28.08.2001 |
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Com. Reg. No.: |
27429 |
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Legal Form : |
Private Company |
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Line of Business : |
Importer and
distributor of food products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Name of Company
LA TROBE CO LTD
ADDRESS
NO. 2, CAUDAN DEVELOPMENT BUILDING RICHE TERRE
Tel. : (230) 249-3800
Fax : (230) 249-3801
Email : cascade2@intnet.mu
INCORPORATED
28.08.2001
STATUS
Private
CO NO.
27429
DIRECTORS & SHAREHOLDERS SHARES
Mr. Lawrence Eric WONG TAK WAN 20,000
ISSUED CAPITAL
RS 2,000,000
NOTE
On 04.09.2006, the Stated Capital of the company after issue of shares = RS 5,000,000.
ACTIVITIES
Importer and
distributor of food products.
SIZE
Company operates at
No.2 Caudan Development Building, Riche Terre.
IMPORTS
Subject imports mainly
from Australia, which makes up to around 75% of its total purchases. Other
sources are New Zealand and South Africa.
EMPLOYMENT
30 -40
FINANCE
(2005)
Turnover: MUR 100.5m
Profit: MUR 229,190
EPS: MUR 210
BRAND NAME
- Snowy
- Khazana
MAIN CUSTOMERS
- Supermarket Chains
- Retail Outlets
- Hotels & Restaurants
OBSERVATION
Since 2001, La Trobe
Co Ltd has been importing and distributing milk powder under its own brand
name. The company import in bulk and packet locally in different sizes and
weight for retailing.
Recently subject has
expanded its activities by importing/distributing “Basmati” rice from India and
Pakistan, which are being packed locally for sale.
REMARKS
The mark-up of
importers/distributors is fixed by the Government since milk is considered an
essential product. Milk consumption has been growing over the past few years
and prices has constantly been increasing due to the depreciation of the local
currency. These have prompted operators to look for cheaper sources.
CREDITWORTHINESS
Subject is generally
prompt with payments and trustworthy for normal business engagement.
BANKERS
-
The Mauritius
Commercial Bank Ltd
-
Barclays Bank PLC
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2005
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RS |
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Turnover |
100,590,855 |
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Cost of sales |
88,831,259 |
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Gross Profit |
11,759,596 |
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Free goods/ discount |
773,789 |
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10,985,807 |
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Administrative expenses |
8,573,772 |
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Depreciation |
833,575 |
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Finance |
1,052,786 |
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10,460,133 |
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Profit/ (Loss) before taxation |
525,674 |
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Taxation |
- |
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---------------------------
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Profit/ (Loss) after taxation |
525,674 |
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Balance brought forward |
(296,484) |
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Balance carried forward |
229,190 |
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Earnings per share |
210 |
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BALANCE SHEET
AS AT 30 JUNE 2005
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RS |
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ASSETS |
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NON CURRENT ASSETS |
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Property, plant and equipment |
5,139,937 |
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CURRENT ASSETS |
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Inventories |
4,691,403 |
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Account receivable |
8,906,199 |
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Cash in hand |
157,799 |
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13,755,401 |
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Total Assets |
18,895,338 |
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EQUITY AND LIABILITIES |
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Capital & Reserves |
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Share Capital |
2,000,000 |
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Reserves |
229,190 |
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2,229,190 |
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NON CURRENT LIABILITIES |
- |
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CURRENT LIABILITIES |
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Accounts payable |
14,132,973 |
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Bank overdraft |
2,533,175 |
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16,666,148 |
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Total equity and liabilities |
18,895,338 |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong) capability
for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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